Web2 Titans Microsoft, Tencent Partner with Consensys to Boost Decentralization of Infura Network
Summary:
Consensys has joined forces with Microsoft, Tencent, and 16 other major Web2 organizations to enhance the decentralization of the Infura network—a crucial access point to Ethereum for most of the decentralized finance sector. These partnerships aim to boost Infura's network decentralization and help prevent disruptions to Web3 services, like MetaMask, that depend on it. Infura's expected Q4 transition to a Decentralized Infrastructure Network (DIN) is meant to sidestep a potential "single point of failure." The DIN will provide failover support for Ethereum and Polygon networks, assuring higher uptime rates and more secure, censorship-resistant access to Ethereum.
Consensys, the blockchain software magnate, has enlisted Microsoft, Tencent, and 16 additional Web2 heavyweights to collaborate in the decentralization of the Infura network, a main conduit to Ethereum for the majority of the budding decentralized finance (DeFi) sector. The intention behind these partnerships is to bolster decentralization of Infura—an essential step towards averting service disruptions for Web3 tools that depend on it, such as MetaMask wallet service.
Andrew Breslin, senior product manager for DIN, communicated to Cointelegraph that the emphasis of the alliances isn’t so much on the partners but centers around established industry entities lining up with Infura's goal of "decentralizing every level of the blockchain infrastructure stack". Currently under the dominion of Consensys, Infura is set to undergo a major shift towards decentralization in Q4 with the launch of the Decentralized Infrastructure Network (DIN), marking an end to a single point of failure.
As Breslin explained, the cost and complexity associated with running a service like Infura limited the scope for partnership, however, the blossoming ecosystem of Web3 infrastructure providers now offers services that work alongside Infura. One of the primary features the DIN will herald is "failover support" for Ethereum and Polygon networks. This means that during an outage, traffic can be rerouted through one or many DIN collaborators, consequently enhancing uptime rates. Upon its initiation, DIN is set to provide more secure, censorship-resistant access to Ethereum, abating reliance on a singular service provider, added Breslin.
Infura presently is a key access portal for most decentralized applications (DApps) to source real-time on-chain data from the Ethereum blockchain. Infura's centralization issue became prevalent in November 2020, when MetaMask wallet became inoperative due to a temporary Infura shutdown affecting some centralized exchanges and DeFi projects. Decentralization of blockchain data providers on the Infura network becomes crucial for long-run censorship resistance as centralized data sources are prone to termination either by a well-orchestrated attack or sufficient legal action.
Breslin stated that the currently announced partners form an open set and Infura welcomes other "highly reliable" internet infrastructure providers to join the DIN. The success of the DIN, according to Breslin, hinges on incorporating more operators over time. The newly assembled group is now partaking in a "federated phase" of the DIN—a provisional trial phase where the network retains its centralization. Over time, Breslin foresees the DIN being controlled either by a decentralized autonomous organization (DAO) or a different governance mechanism that guarantees each participant an equitable influence on the network's trajectory.
Published At
11/15/2023 1:50:00 PM
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